SSY Calculator: The Sukanya Samriddhi Yojana (SSY) Calculator helps you estimate the maturity value of your investments in this government-backed savings scheme for girl children. It calculates:
✅ Yearly/Quarterly Contributions
✅ Current Interest Rate (2024: 8.2%)
✅ Projected Maturity Value

SSY is a tax-free, high-return scheme under the Beti Bachao Beti Padhao initiative.

How SSY Returns are Calculated

SSY Maturity Formula (Compounded Annually):

A=P×(1+r)n−1r×(1+r)

  • A = Maturity Amount

  • P = Annual Investment

  • r = Annual Interest Rate (8.2% in 2024)

  • n = Investment Tenure (Max 15 years)

Example Calculation:

  • Yearly Deposit (P): ₹50,000

  • Tenure (n): 15 years

  • Interest Rate (r): 8.2%

Step 1: Apply SSY formula

A=50,000×(1+0.082)15−10.082×(1+0.082)≈∗∗₹15,68,864∗∗

Total Invested Amount:

₹50,000×15=∗∗₹7,50,000∗∗

Interest Earned:

₹15,68,864−₹7,50,000=∗∗₹8,18,864∗∗

Key Benefits of SSY Scheme

✅ High Interest Rate (8.2% in 2024) – Better than FDs & RDs
✅ Tax-Free Returns – Exempt under Section 80C (₹1.5L deduction)
✅ Government-Backed – Zero risk, sovereign guarantee
✅ Long Tenure (21 years total) – Ensures corpus growth
✅ Partial Withdrawal at 18 – Up to 50% for education/marriage

SSY vs Other Child Savings Plans

Feature SSY PPF Mutual Funds Child FD
Interest Rate 8.2% (2024) 7.1% 10-15% (variable) 6-7%
Tax Benefit 80C + Tax-Free 80C LTCG Tax Taxable
Lock-in Period 21 years 15 years None 1-10 years
Risk Risk-Free Risk-Free Market-Linked Low Risk

Who Can Open an SSY Account?

  • Parents/Guardians of a girl child below 10 years

  • Maximum 2 accounts per family (exception for twins/triplets)

  • NRIs not eligible

FAQs on SSY Calculator

1. What is the minimum deposit for SSY?

  • ₹250/year (max ₹1.5L/year for tax benefits).

2. Can I extend SSY beyond 21 years?

  • No, maturity is fixed at 21 years from opening.

3. Is SSY interest taxable?

  • No, fully tax-free under Section 10(11A).

4. What if I miss a yearly payment?

  • Account remains active but ₹50/year penalty applies.

5. Can I transfer SSY account to another post office/bank?

  • Yes, free transfers allowed nationwide.

Try Our Free SSY Calculator

Plan your daughter’s future with our SSY Calculator:
📌 Check maturity for different investment amounts
📌 Compare with other child plans
📌 Maximize tax-free returns

Calculate Now & Secure Her Future!

Key Takeaways

  • ₹1.5L/year tax deduction under 80C

  • 8.2% guaranteed returns (2024)

  • Partial withdrawal allowed after girl turns 18

  • Use calculator before investing